HMM, Early Session Up Over 6%... Hits 52-Week High
[Asia Economy Reporter Park Jihwan] HMM is showing a strong rise of over 6% in early trading on the 28th.
As of 10:02 AM on the day, HMM was trading at 39,200 KRW, up 2,400 KRW (6.52%) from the previous day. During the session, it rose to 39,800 KRW, setting a new 52-week high.
The surge in HMM's stock price is analyzed to be due to record-breaking earnings forecasts. With demand exceeding supply and the Suez Canal accident occurring, freight rates surged sharply, leading to expectations of significant increases in sales and operating profit.
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Yang Jihwan, a researcher at Daishin Securities, stated, "Under the current strong demand conditions, it is unlikely that supply chain disruptions on the US and Europe routes will normalize easily," adding, "The strong market conditions are expected to continue through the peak season in the third quarter."
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